Real Estate Agents Bill approved in Senate

The Real Estate Agents Bill, 2020 was approved with amendments in the Senate on Wednesday.

The bill, which has 83 clauses, is entitled “An Act to provide for the registration and regulation of real estate agents in order to promote transparency, accountability and integrity in the real estate profession, to protect and assist persons engaged in transactions with real estate agents and to assist in the detection and prevention of money laundering and terrorist financing, and other related matters.”

During the committee stage, concerns were raised as to accessibility to the registrar, how long licenses should last, who was qualified to be registered, the need for a tribunal as opposed to going to court, qualifications, accreditation, and inclusion of developers, among other matters.

The Senate was then adjourned to May 26 at 1.30 pm, which will be Private Members Day.